When looking for suitable business space - namely, shops to let - there are a number of things you need to consider before you sign a contract. Firstly, you need to decide what kind of business you are going to be running. This will depend a lot on your own personal interests, and a possible gap in the marketplace.

It is wise to conduct some market research on the pros and cons of your chosen line of retail. This can be through doing some research online, as well as phoning similar establishments directly, and asking a few questions. You should also endeavour to put a business plan together, which will help you to understand if your proposals would make a viable business venture.

Location may determine the product or service you would like to sell. The success of your business could totally depend on where you are geographically positioned. If you have a unique product, then location is not so critical - it is more about making your potential clients aware that you exist.However, whether you are selling tins of soup - or newspapers that are available on every street - then you will need to ensure your chosen retail space has the necessary footfall, to make the business work.

You can purchase market research reports that will give you an idea of what kind of footfall you should be expecting - so, when it comes to looking at shops to let - you can judge what premises would be too expensive. Be aware that these reports do not come cheap, but it may be worth the initial outlay, in order to ensure your choice of space to rent is a suitable one. There are many estate agents that specialise in business property, but you can also find listings online, or in your local classifieds.

It is always a good idea to camp outside a potential retail unit, and conduct your own footfall research, before committing to a location. This should ideally be done over a four-week period, to get an accurate idea of passing trade.

When it comes to legal terms, it is advisable to negotiate a 12-month lease with your landlord. This should give you the time needed to decide if it is going to be a valuable business. If your contract is longer than 12 months, and things don't work out, you could be stuck paying rent on an empty space.

The cost of premises is obviously something you need to think about. Your turnover should greatly outweigh what you're paying on renting the shop. The location of your shop will determine how much you pay. However, you will also need to factor in the cost of refitting and signage - unless the unit you are renting comes readily done to suit your needs.

If you are thinking about renting retail space, make sure you consider all the above carefully before signing any contracts. Once you are tied in, it can be almost impossible to backtrack - so conduct your research, and make sure you have the necessary funds to back you up.